Unformatted text preview: This article shows that there is great tension in Europe over financial matters. With Greece and Ireland already receiving bailout money, many are afraid that Portugal and Spain will be next in line to receive the assistance. This in turn causes prices to rise and when the governments try to make cuts they have to spend more just from borrowing the money. This shows a flaw that the common economy and currency of Europe is causing. Some of the nations that took the Euro were not ready as is clearly seen with these massive bailouts. This leads to the question is there enough money in the European Central Bank to provide these bailouts to these countries? Or are some of the countries that took the euro going to switch back to their old monetary system?...
View Full Document
- Fall '10
- Government, Major budget cuts